(i) Lessor represents and warrants that Lessor is a corporation duly incorporated and validly existing under the laws of the State of Delaware and has the full power an authority to carry on its business as presently conducted and to perform its obligations under this Lease;



 (ii) Lessor further represents and warrants that this Lease and each of the Operative Agreements to which Lessor is a party has been duly authorized by all necessary action on the part of Lessor, does not require any approval of stockholders of Lessor, and neither the execution and delivery hereof nor the consummation of the transaction contemplated hereby nor compliance by Lessor with any of the terms and provisions hereof will, to the knowledge of Lessor after having made due inquiry, contravene any Applicable Law or result in any breach of, or constitute any default under, or result in the creation of any Lien upon any property of Lessor under Lessor's Articles of Incorporation or any credit agreement or instrument or other agreement or instrument to which Lessor is a party or by which Lessor or its properties or assets are bound or affected;



 (iii) Lessor further warrants that on the Commencement Date the Aircraft shall be free and clear of any and all Liens, other than Permitted Liens;



 (iv) Lessor further represents and warrants that the making and performance by Lessor of this Lease has been duly authorized by all necessary action on the part of Lessor and will not violate any provision of its articles of incorporation or by-laws;